Horizon Health (NASDAQ:HORC)
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Horizon Health Corporation (NASDAQ/NM:HORC) today
announced the acquisition of Kids Behavioral Health of Utah, Inc.
d/b/a Copper Hills Youth Center effective January 1, 2006. Copper
Hills Youth Center is a 126-bed adolescent residential behavioral
health treatment center located in West Jordan, Utah. Copper Hills
Youth Center had net revenues of approximately $11.9 million for the
fiscal year ended December 31, 2004, and net revenues of approximately
$11.7 million for the 11 months ended November 30, 2005.
Ken Newman, chairman and chief executive officer of Horizon
Health, stated, "Including the anticipated acquisition of the eight
behavioral health facilities of Lighthouse Care Centers and Focus
Healthcare, this acquisition represents our 14th behavioral health
facility. We are very pleased with the addition of this residential
behavioral health treatment center that will be another Horizon
facility providing quality patient services for the communities it
serves."
Horizon Health Corporation is a leading contract manager of
clinical services for acute care hospitals and employers and an owner
of behavioral health care facilities.
The statements contained herein based on future expectations
rather than on historical facts are forward-looking statements as
defined under the Private Securities Litigation Reform Act of 1995
that involve a number of risks and uncertainties. Factors that could
cause actual results to differ materially from those in any such
forward-looking statements include, but are not limited to, the
ability to consummate additional acquisitions, the ability to
integrate the existing operations of the hospital on a cost-effective
basis, adverse changes in reimbursement to psychiatric hospitals by
federal and state health care programs and other third-party payors
and various other risks as outlined in Horizon's Securities and
Exchange Commission filings. There can be no assurance that statements
made in this press release relating to future events will be achieved.
The Company undertakes no obligation to update or revise
forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating
results over time.